Question 9 Materiality is an extremely important concept in the world of auditing and attestation services. Auditors consider this carefully when planning and executing an audit. Which of the following choices best describes and explains the concept of materiality as it pertains to auditing? O Materiality relates to the concept of whether something is considered important or not to the auditor, and refers to quantitative amounts contained in the financial statements. O Materiality relates to whether knowledge of a certain item would influence a reasonable person's decision on something, and could be quantitative or qualitative. O Materiality is a legal term defined by the courts and interpreted by judges and juries during trials. O Materiality relates to whether a reasonable person would be influenced by knowledge of the item, and refers to qualitative information provided, such as notes to the financial statements. Next